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Virtuoso Optoelectronics Ltd commissions its fourth Manufacturing Facility



Posted On : 2023-03-14 12:44:08( TIMEZONE : IST )

Virtuoso Optoelectronics Ltd commissions its fourth Manufacturing Facility

Virtuoso Optoelectronics Limited (VOEPL), an emerging manufacturer and mass producer of Electronics Manufacturing Services (EMS) and consumer products, has today announced the launch of its fourth manufacturing facility in Nashik, Maharashtra. The state-of-the-art facility will help the company meet the growing inhouse demand for plastic components and cross flow fans (CFF), while also enhancing its production capabilities and customer service. This manufacturing plant is also set to be a milestone in VOEPL's backward integration model.

The new facility is nearly 20,000 sq. ft. & is equipped with the modern machinery, which will enable VOEPL to produce Cross Flow Fans (CFF) & a wide range of plastic components to meet the specific needs of its customers. With the initial capacity to produce upto 40,000 CFFs every month, the company plans to double this capacity to approximately 80,000 CFF's of different capacities over the next six to nine months.

Speaking on the occasion, Mr. Nitin Shewale, President & COO of VOEPL said, "We are happy to share the commencement of our fourth manufacturing facility, which will help us meet the growing requirement for plastic components and cross flow fans. We are committed to meeting the evolving needs of our customers, and this new facility will help us move one step forward in that direction."

The launch of this new manufacturing facility is expected to help VOEPL reduce cost and improve production lead time. The company is continuing to build on its plans to strengthen their backward integration & to continuously work towards capacity enhancement.

Shares of Virtuoso Optoelectronics Limited was last trading in BSE at Rs. 160.05 as compared to the previous close of Rs. 171.00. The total number of shares traded during the day was 82000 in over 40 trades.

The stock hit an intraday high of Rs. 172.90 and intraday low of 157.05. The net turnover during the day was Rs. 13394000.00.

Source : Equity Bulls

Keywords

VirtuosoOptoelectronics INE0I0T01010 VOEPL EMS ConsumerProducts Fourth ManufacturingFacility Nashik Maharashtra